Last Week's Biggest Sales
1. COBBLE HILL $3,132,000 213 Congress Street GMAP (left) When this 25-foot-wide, brick single-family was a House of the Day in January, it was listed for $4,400,000. Entered into contract on 6/19/09; closed on 7/17/09; deed recorded on 8/5/09. 2. PARK SLOPE $2,800,000 897 Union Street GMAP (right) This single-family was a House of the…
1. COBBLE HILL $3,132,000
213 Congress Street GMAP (left)
When this 25-foot-wide, brick single-family was a House of the Day in January, it was listed for $4,400,000. Entered into contract on 6/19/09; closed on 7/17/09; deed recorded on 8/5/09.
2. PARK SLOPE $2,800,000
897 Union Street GMAP (right)
This single-family was a House of the Day in February, when it was listed for $2,995,000. The sellers purchased it for $2,600,000 in March 2005. Entered into contract on 5/12/09; closed on 7/23/09; deed recorded on 8/5/09.
3. GREENWOOD HEIGHTS (?) $1,425,000
157 19th Street GMAP
Tough to pinpoint a neighborhood on this location, and the whole transaction seems slightly bizarre: The two-family house was first listed for $1,250,000 way back in December ’07, according to StreetEasy, went on and off the market a bunch of times, and was ultimately asking $899,000 last November. So how did it sell for $1.4 mil??? It’s 1,800 square feet and last sold for $605,000 in 2007, per PropShark. Entered into contract on 7/9/09; closed on 7/9/09; deed recorded on 8/5/09.
4. WILLIAMSBURG $1,250,000
85 North 3rd Street, Unit 410 GMAP
This is a 2,000-square-foot loft in the Mill Building condo, according to StreetEasy. It was listed for $1,495,000 in February. Entered into contract on 6/19/09; closed on 7/27/09; deed recorded on 8/7/09.
5. DYKER HEIGHTS $$1,125,000
1315 74th Street GMAP
This house was asking what it went for, according to this listing. Entered into contract on 4/12/09; closed on 7/22/09; deed recorded on 8/7/09.
Pics from Property Shark.
DH, that 20% haircut I referenced was on the price my buddy paid back in 06 – ie he took a 20% LOSS
ah – gotcha m4l. i’ll have to keep an eye on any listings from the gretsch then. I freakin’ love that building
antidope, off memory (a little vague now), $1.1M (back in 07) for a 2000 sq ft unit sounds like it’s an insider deal and/or the unrenovated version. Believe the developer was offering both renovated and unrenovated versions back than. Even if unrenovated, the $1.1M price sounds lower than the prices I vaguely remember
M4L:
I really don’t see too many brownstones under 1.6 on the market, but just to give you an idea of inventory….I usually check the Corcoran website for their “newest listings” and today for the first time since I can remember checking it, there is not a single new listing for a brownstone in Park Slope. None. Zero.
To give you an update on Manhattan inventory just for fun. They had over 11,000 properties on the market just a few months ago, down to 9853 30 days ago and 9541 today.
Inventory has been steadily dropping since winter.
As we can see from BHO’s rather desperate posting today, the bears don’t have a ton to work with on this thread.
DH, gretsch bldg hasn’t done so hot recently. A buddy of mine ate a 20% haircut selling his place and he said he wasn’t alone. Plus recall, there were some short sales there.
I’m sorry, is The Mill considerably different than it was in July 2007? Sure it’s not a direct comp to new condos and their issues, but it is a DIRECT COMP TO ITSELF. Now maybe someone can show me that the building or apartment underwent an extensive renovation. that would change things. otherwise this is as good a comp as you can get for williamsburg nabe. (But also agree that it doesn’t say anything specific about clearing prices for new glass condos in nabe.)
“DH can probably clarify for us, but I believe the Mill Building is special. It’s one of those real loft buildings in a great location.”
You beat me to it. The Mill is an amazing warehouse conversion, definitely the best building on the northside. Love the wood beams the apts have.
Resales in other conversions have been decent (the gretsch and the cast iron coop on Broadway and bedford)
agreed – the towers on the water need to come down if the best building is trading at 625psf
Muffy:
When lots of these sales are of brownstones (of which there are only a handful on the market at any given time in each neighborhood) of course they are outliers. The entire brownstone market is an outlier in those terms then. There is practically NOTHING on the market right now in some of these areas with regard to nice, renovated brownstones, so your comment doesn’t really make much sense to me.
Tell us…what was your prediction for that Union Street house…cause I can tell you for certain that there’s no way you would have guessed 2.8. Judging from your other comments, you would have said it was 500-800K overpriced.
No denying it, those are pretty strong #s on Cobble and Slope houses.
11217,
do you have a pulse check if the 1.6M and below market is fairly as well as the 2.5M and above?